How to Buy Cryptocurrency in Barbados
Buying cryptocurrency in Barbados
Unlike in Bangladesh, cryptocurrencies are completely legal and widely available in Barbados. People can purchase and trade Bitcoin and other cryptocurrencies without any limitations. There are also many popular exchanges available in the country, including Coinmama, which is one of the largest Bitcoin exchanges in the world. The citizens of Barbados can also buy Bitcoin anonymously without revealing their identity thanks to the LocalBitcoins exchange. Since this small island nation is in tons of debt, people are using Bitcoin as a financial alternative separate from the government. They can use Bitcoin to buy anything online, although the currency has not yet been adopted by major brick and mortar stores. Other popular exchanges where citizens can legally purchase Bitcoin in Barbados include eToro and CEX.io. Both of these come with perks and downsides, although neither of them will get you in trouble for using cryptocurrencies in this country.
As of 20/03/2021
These exchanges all accept customers from Barbados. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan
- It can be used to trade against fiat options
- Robust security measures
- Free SEPA deposits in Europe
- Not a very beginner-friendly interface.
- No card deposit options